Big data for everyone was yesterday – today we need individual solutions and green data
June 9 2021
The buzzword “Big Data” has been with us now for more than 20 years, and the concept is becoming outdated. Collecting more and more data merely for the sake of collecting it doesn’t help anyone, neither you nor your customers. What we need is a paradigm shift: companies should only collect data to the extent that they can actually process it and that it provides them with real insights.
Technology giants like Google and Apple have recognised the signs of the times: customers are becoming increasingly concerned about their privacy and therefore no longer want to be constantly tracked in their online activities. Regulators are also pushing for greater protection of privacy on the Internet. As such, Google plans to stop selling ads based on users’ specific web browsing from 2022. And iPhone and iPad owners can already opt out of being tracked by apps for advertising purposes. Other companies should take these two as an example and rethink their data strategy. After all, currently the only strategy is often still just to collect as much data as possible.
When these data volumes become too large, fast-moving and/or complex, they are referred to as Big Data – they can no longer be captured and processed using traditional IT methods. New tools and solutions have been developed for this purpose. But do these really help companies gain useful insights from all their data? In most cases, probably not. What the Big Data era has primarily created are new ways to store and process large volumes of data. Now we need to take the next step and consider what data we actually need.
Lean Data, Small Data, Wide Data, Green Data – tailoring your data strategy to your own needs
In response to this question, several new concepts have emerged in recent years that take different approaches:
Lean Data: As little data as possible is collected and stored. Companies that want to follow this principle must first become aware of what specific goals they want to achieve and what data they need in order to do so.
Small Data: Companies collect only manageable data sets that contain little but meaningful information. Therefore, analytics techniques are used that require less data to provide helpful insights.
Wide Data: This involves bringing together data from a variety of different data sources, whether small or large, unstructured or structured, to analyse and create synergies between them.
Green Data: Every citizen in Germany generates around twelve tons of CO2 emissions per year through their digital lifestyle. To reduce this figure to a climate-friendly level of two tons, as little data as possible is collected and all data that is redundant, trivial or obsolete (ROT data) is deleted on a rolling basis.
We need to understand that the “one-size-fits-all” principle doesn’t work. Every company needs a data strategy that suits its individual needs and capabilities. Large companies may well be able to generate added value from huge volumes of data, but this effort can easily overburden small and medium-sized companies, in terms of time and finances. In addition, to stop climate change, we need to significantly reduce CO2 emissions – companies can contribute to this by deleting unused and unnecessary data.
We would be happy to help you find the right path for you and your business. Regardless of which approach you want to follow; our Data Mastery Platform can help you to keep only the data assets you need for it. Would you like to delete up to 40 percent of your data simply with just one click, save several tons of CO2, and draw real insights from the rest that will secure sustainable business advantages for you? Then arrange a demo with our team today!